Investors pay attention to multi-level financial news ——"A pure waste of time" or "It’s worth it"

https://doi.org/10.1016/j.procs.2022.01.050Get rights and content
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Abstract

In recent years,the efficiency of news communication has been greatly improved with the advance of Internet technology, and whether investors should pay attention to multiple levels of news when making trading decisions is worth pondering. However, Chinese scholars have paid little attention to the news hierarchy, and do not bring different levels of news into the prediction system. Therefore, this paper studies the stock price trend prediction from this perspective. This paper selects the medical industry as the representative, and adds its sub industry news and industry news to form a multi-level news system on the basis of individual stock news. In order to make better use of and extract the information contained in different levels of news, the multi-kernel learning model is incorporated on the basis of using SVM. The results suggest that the use of multi-level news can improve the accuracy of stock price trend prediction. Compared with the SVM model solely considering individual stock news, the prediction accuracy of multi-kernel learning model based on multi-level news is improved by 10%, which is of great significance for investment decision-making.

Keywords

stock price trend
multi-level financial news
multi-kernel learning model

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